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Red tape is an idiom that refers to excessive regulation or rigid conformity to formal rules that is considered redundant or bureaucratic and hinders or prevents action or decision-making. It is usually applied to governments, corporations, and other large organizations.
One definition is the "collection or sequence of forms and procedures required to gain bureaucratic approval for something, especially when oppressively complex and time-consuming". Another definition is the "bureaucratic practice of hair splitting or foot dragging, blamed by its practitioners on the system that forces them to follow prescribed procedures to the letter".
Things often described as "red tape" include filling out paperwork, obtaining licenses, having multiple people or committees approve a decision and various low-level rules that make conducting one's affairs slower, more difficult, or both. Red tape can also include "filing and certification requirements, reporting, investigation, inspection and enforcement practices, and procedures".

Source: Wikipedia